{"id":10165,"date":"2009-03-23T00:00:00","date_gmt":"2009-03-23T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"suncor-to-buy-petro-canada-for-15-billion","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2009\/suncor-to-buy-petro-canada-for-15-billion.html","title":{"rendered":"Suncor to buy Petro-Canada for $15 billion"},"content":{"rendered":"<p>Reuters &#8211; Suncor <span class=\"kLink\">Energy<\/span><span class=\"kLink\">&nbsp;Inc<\/span> has agreed to buy rival Petro-Canada to create Canada&#8217;s largest oil company, as the pair seek to tackle tough conditions in the <span class=\"kLink\">oil<\/span><span class=\"kLink\">&nbsp;sands<\/span> industry by slashing costs. <\/p>\n<p>Suncor will pay C$18.43 billion ($14.9 billion) for PetroCanada in the all-share deal which targets $1.3 billion in savings after soaring costs and plummeting <span class=\"kLink\">oil<\/span><span class=\"kLink\">&nbsp;prices<\/span> made it hard to turn a profit from squeezing crude out of tarry soil.<\/p>\n<p>The deal comes after a period of missed earnings targets and a project delay at Petro-Canada and is expected to be completed in the third quarter of 2009.<\/p>\n<p><a href=\"http:\/\/www.hedgeco.net\/news\/news_land.php?i=http:\/\/us.rd.yahoo.com\/dailynews\/rss\/business\/*http:\/\/news.yahoo.com\/s\/nm\/20090323\/bs_nm\/us_petrocanada_suncor\" target=\"_blank\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reuters &#8211; Suncor Energy&nbsp;Inc has agreed to buy rival Petro-Canada to create Canada&#8217;s largest oil company, as the pair seek to tackle tough conditions in the oil&nbsp;sands industry by slashing costs. Suncor will pay C$18.43 billion ($14.9 billion) for PetroCanada [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[9405,1055,9404,9403,1418,4326,9456,9406],"class_list":["post-10165","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-advisory-boards","tag-earnings","tag-freedom-foundation","tag-haidian-district","tag-oil-company","tag-reuters","tag-suncor-energy","tag-visiting-professor"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=10165"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/10165\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=10165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=10165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=10165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}